Big Build
To enhance road safety, the Victoria Government has allocated $5.2 million for a closed-circuit track trial to study the effects of medicinal cannabis on driver impairment. This initiative is particularly relevant given the ongoing discussions about workplace drug testing and the use of medicinal cannabis at work.
The budget also includes $107 million to progress the state’s ambitious housing agenda, addressing housing shortages and improving living conditions for Victorians.
Workforce skills
The budget commits $394 million to boost access to vocational training and Free TAFE, offering over 80 courses. Additional investments include:
- $113 million for TAFEs to provide support services and training delivery.
- $32 million for subsidised training and short courses to help workers retrain or upskill.
- $18 million for Jobs, Skills, and Pathways Coordinators to support vocational students in schools.
- $11 million to support apprentices, trainees, and their employers in meeting workforce priorities.
- $555 million to support TAFEs, deliver Free TAFE, and attract more Victorians to essential skills training.
- $38 million to strengthen vocational education in schools.
- Establishing clean energy worker training centres and the State Electricity Commission (SEC) Centre of Training Excellence to support the transition to cleaner energy.
Additionally, $71 million is allocated to support young people completing secondary education at TAFE, and $23 million to improve access to Vocational Education and Training in schools, including a new ‘taster’ pilot program for Year 9 and 10 students.
Businesses
To support businesses, the budget includes:
- Gradually abolishing business insurance duty over ten years, saving businesses $516 million over the next four years.
- Increasing the payroll tax-free threshold from $700,000 to $900,000 in 2024, and then to $1 million in 2025. This change will exempt around 6,000 small businesses from payroll tax and reduce the burden for another 22,000 businesses.
- $2.3 million to provide advice and support to small businesses.
Schools and TAFEs for regional students
The budget includes investments specifically for regional students:
- $394 million to boost access to vocational training and Free TAFE, including for those in regional Victoria.
- $113 million for TAFEs to provide support services and training delivery.
- $14 million for Tech Schools to help students discover their passions, including outreach for country students through regional STEM camps.
Planning the energy transition
The budget supports the transition to renewable energy with several key initiatives:
- $6.1 million for interest-free loans to help eligible households install solar battery storage systems.
- $38 million to enable more Victorians to install electric heat pumps and solar hot water systems, saving households up to $400 annually on electricity bills.
- $5.9 million to improve the Victorian Energy Upgrades program, helping households and businesses switch to energy-efficient products.
- $12 million for VicGrid to coordinate the development of the state’s transmission infrastructure as part of the renewable energy transition.
